Dear Fellow Nebraskans:
We are always looking for ways to improve business and create jobs in our state. Providing a quality education for our young people is essential and we must have high-quality jobs that will keep our best and brightest here in Nebraska so that they can live, work and raise a family.
In 2005, I worked with legislative leaders to craft a comprehensive update to Nebraska’s business incentives known as the Nebraska Advantage Act, which took effect in January 2006. Since taking effect, we have updated and improved the Nebraska Advantage several times in order to keep Nebraska competitive as we compete for jobs in today’s global, technology driven, free market economy.
I am pleased to announce that we have recently reached a significant milestone with the Nebraska Advantage. Since 2006, we have received more than 400 applications representing nearly $9.8 billion in investment and more than 25,000 jobs.
The Nebraska Advantage Act, a tiered incentive program designed to spotlight Nebraska as the preferred location for starting and growing businesses, was again improved during this recent legislative session.
LB 34 made a number of changes to simplify and standardize the Nebraska Advantage Act. For applications filed on or after September 6, 2013, the legislation simplifies the definition of taxpayer; standardizes project years as calendar, rather than tax, years; allows the Nebraska Department of Revenue to disclose project information to an acquiring taxpayer about the project and prior benefits; and establishes a 180 day deadline for approving or denying applications.
Companies with qualifying projects would be eligible to receive partial or full refunds of sales taxes based on their level of investment, source of capital investment and level of ownership by Nebraska residents in the project.
With our sights always set on Nebraska’s future, we’re always looking for ways to keep and make Nebraska more competitive. Our aggressive pursuit of a comprehensive package of business-friendly incentives has resulted in a net population growth exceeding the national for several years now.
Nebraska has good jobs, an excellent educational system, safe communities, affordable homes and a low cost of living, and a marvelous all-around environment in which to raise families and grow businesses. Through our continued efforts, we will make sure this remains true and Nebraska continues moving forward.
By Governor Dave Heineman